SOURCE: Niko Resources Ltd.

Niko Resources Ltd.

September 29, 2017 07:05 ET

Niko Provides Corporate Updates

CALGARY, AB--(Marketwired - September 29, 2017) - Niko Resources Ltd. ("Niko" or the "Company") (TSX: NKO) provides the following updates:

Voting Results of Election of Directors

At its annual general meeting of shareholders held on September 28, 2017, each of the nominees proposed by management as a director of the Company were elected as directors of the Company.

The detailed results of the vote by ballot are as follows:

Nominee  Votes For  Votes Withheld
   Number  Percentage  Number  Percentage
Scott K. Brandt  10,460,337  99.00%  105,694  1.00%
Glenn R. Carley  10,422,805  98.64%  143,226  1.36%
William T. Hornaday  10,127,771  95.85%  438,260  4.15%
E. Alan Knowles  10,453,475  98.93%  112,556  1.07%
Christopher H. Rudge  10,398,825  98.42%  167,206  1.58%
         

Liquidity Situation

As previously disclosed, in order to fund the Company's cash requirements over the short term, the Company requires certain consents from the Lenders under its amended and restated facilities agreement and to date, the Company has received these consents. The Company expects that similar consents from the Lenders will be required over the upcoming months. The withholding of such consents by the Lenders during this period will have a material adverse impact on the Company's ability to fund its operations and is therefore likely to have a material adverse impact on all stakeholders.

Forward-Looking Information

Certain statements in this press release constitute forward-looking information. Specifically, this press release contains forward looking information relating to the Company's ability to fund its operations and receive consents from the Lenders under its amended and restated facilities agreement. Such forward-looking information is based on a number of risks, uncertainties and assumptions, which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Undue reliance should not be placed on forward-looking information. Such forward-looking information reflects the Company's current beliefs and assumptions and is based on information currently available to the Company. This forward-looking information is based on certain key expectations and assumptions, many of which are not within the control of the Company, including that the consent of the Lenders can be obtained on a timely basis or at all and the expected cash flow of the Company over the next few months. The reader is cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors and such variations may be material. Such risk factors include, but are not limited to, the risks discussed under the heading "Risk Factors" in the Company's Annual Information Form for the year ended March 31, 2017 and in the Company's public disclosure documents, and other factors, many of which are beyond the Company's control. Niko makes no representation that the actual results achieved during the forecast period will be the same in whole or in part as those forecast.

The forward-looking information included in this press release is expressly qualified in its entirety by this cautionary statement. The forward-looking information included herein is made as of the date of this press release and Niko assumes no obligation to update or revise any forward looking information to reflect new events or circumstances, except as required by law.

Contact Information

  • For further information, please contact:

    Niko Resources Ltd.
    (403) 262‐1020
    Glen Valk
    VP Finance & CFO
    or visit the Company's website at www.nikoresources.com